Title
Chief Administrative Office recommending the Board make a finding that specific projects will provide a significant community benefit by providing housing that is affordable to very low-, low-and/or moderate-income households and award Traffic Impact Mitigation (TIM) Fee Offsets totaling $329,920 in accordance with Board Policy B-14.
FUNDING: Traffic Impact Mitigation Fees.
Body
BUDGET SUMMARY:
Total Estimated Cost $329,920
Funding
Budgeted $329,920
New Funding $
Savings $
Other $
Total Funding Available $329,920
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost: There is no impact to Net County Cost for the offset of these TIM fees. After the award of these offsets, there is $1,659,760 remaining in the TIM Fee Offset program.
Background: On December 11, 2007, the Board adopted policy B-14, Traffic Impact Mitigation (TIM) Fee Offset Program for Developments with Affordable Housing Units. The TIM Fee Offset Committee considers requests from developers twice each year from January 20 through February 28 and July 30 through August 28. The TIM Fee Offset Committee convened for the second round of applications due July 31, 2008. Four applications were received for a total request of $329,920. Three are second dwelling units on owner occupied parcels intended as an affordable rental for low- to moderat income tenants located in Sly Park (Zone 6), Pleasant Valley (Zone 3) and Camino (Zone 5). The fourth application is for a multi-family residential low- to moderate income affordable infill development located on County Club Drive in Cameron Park (Zone 2).
Reason for Recommendation: Based on the recommendations of the TIM Fee Offset Committee, the Chief Administrative Officer recommends that the Board make a finding that the following projects will provide a significant community benefit by providing housing that is affordable to very low-, low-and/or moderat...
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